Halcon Snuck Up On Me: 135,000 Net Acres; 8 Rigs In The Bakken
From Yahoo!In-Play:
Halcon Resources provides operational update; says co is currently
operating 17 rigs across its holdings and is producing ~ 30,000 barrels
of oil equivalent per day:
The co is currently operating 17 rigs across its holdings and is
producing approximately 30,000 barrels of oil equivalent per day.
Drilling and completion results continue to improve and there are 27
wells currently being completed or waiting on completion. Co continues
to identify and acquire specific acreage in its core areas.
The co is
operating eight rigs on its 135,000 net acre position in the Williston
Basin.
The implementation of drilling and completion modifications
continues to yield impressive results. Co expects well costs in the Fort
Berthold area to decrease by approximately 10% to $9.0 million by the
end of 2013, through efficiencies related to pad drilling operations,
implementation of centralized production facilities and continued
optimization of completion techniques.
Co is operating five rigs at El
Halcon. The average effective lateral length for the two most recently
drilled and completed wells in the play is 8,349 feet. The average
initial production rate from these two wells is 1,116 boepd (94% oil) on
a 16/64 choke, or 18% higher than the average initial rate for all
previously drilled and completed Company-owned wells in this area. The
co is operating two rigs on its 210,000 net acre position prospective
for the Woodbine and other formations in East Texas.
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